PNC Financial Services (NYSE: PNC)‘s stock had its “buy” rating reiterated by equities research analysts at TheStreet in a research note issued to investors on Friday.
The analysts wrote, “PNC Financial Services Group (PNC) has been reiterated by TheStreet Ratings as a buy with a ratings score of A- . The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, expanding profit margins, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
A number of other firms have also recently commented on PNC. Analysts at SunTrust downgraded shares of PNC Financial Services from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, February 6th. Separately, analysts at Nomura initiated coverage on shares of PNC Financial Services in a research note to investors on Wednesday, February 6th. They set a “buy” rating and a $72.00 price target on the stock. Finally, analysts at Wells Fargo downgraded shares of PNC Financial Services from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, January 29th. They noted that the move was a valuation call.
Sixteen equities research analysts have rated the stock with a buy rating, four have given an overweight rating, thirteen have given a hold rating, and one has assigned an underweight rating to the company. The stock currently has an average rating of “overweight” and an average target price of $68.83.
Shares of PNC Financial Services traded up 0.27% during mid-day trading on Friday, hitting $62.56. PNC Financial Services has a 52 week low of $53.36 and a 52 week high of $67.89. The stock’s 50-day moving average is currently $62.27. The company has a market cap of $33.032 billion and a P/E ratio of 11.77.
PNC Financial Services last posted its quarterly earnings results on Thursday, January 17th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.13. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the company posted $1.15 earnings per share. PNC Financial Services’s revenue was up 14.7% compared to the same quarter last year. On average, analysts predict that PNC Financial Services will post $6.53 earnings per share for the current fiscal year.
The PNC Financial Services Group, Inc. (PNC) is a financial service company. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing its products and services nationally and others in its markets located in Pennsylvania, Virginia, Missouri, Wisconsin and Georgia.
To view TheStreet’s full report, visit www.thestreetratings.com
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